MJ Gleeson plc, the low-cost housebuilder and land promoter, is pleased to announce that the Science Based Targets initiative (the "SBTi") has validated its near-term and net-zero targets.
The SBTi is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. It allows companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The validation of the targets demonstrates Gleeson’s ongoing commitment to direct climate action, through decarbonisation across its value chain.
To ensure maximum transparency, accountability and corporate leadership, the Group will publicly report its progress against these targets on an annual basis along with a company-wide GHG emissions inventory.
Overall net-zero target:
The Group commits to reach net-zero greenhouse gas emissions across the value chain by FY2050.
Near-term targets:
Energy & Industry: The Group commits to reduce absolute scope 1 and 2 GHG emissions 50.4% by FY2032 from a FY2022 base year and to reduce scope 3 GHG emissions 58.1% per m² completed floor area within the same timeframe.[1]
Forest, Land and Agriculture (FLAG) Guidance: The Group commits to reduce absolute scope 1 and 3 FLAG GHG emissions 36.4% by 2032 from a 2022 base year and to no deforestation across its primary deforestation-linked commodities, with a target date of December 31, 2025.[2]
Long-term targets:
Energy & Industry: The Group commits to reduce absolute scope 1 and 2 GHG emissions 90% by FY2050 from a FY2022 base year and to reduce scope 3 GHG emissions 97% per m² completed floor area within the same timeframe.[3]
FLAG: The Group commits to reduce absolute scope 1 and 3 FLAG GHG emissions 72% by 2050 from a 2022 base year.[4]
Stefan Allanson, Chief Financial Officer of MJ Gleeson, commented:
“We are delighted that the SBTi has validated our near and long-term emissions reduction targets, marking an important milestone and further strengthening our commitment to transparency, accountability and operating responsibly. As an inherently sustainable business, we are committed to playing our part in addressing climate change while continuing to deliver high-quality, affordable homes for the people who need them most.
We recognise the impact the built environment has on carbon emissions, both from the construction of new homes and in-use emissions, with this validation representing our commitment and the dedication of our team to minimising our environmental impact and reaching net-zero by 2050."
1 The target boundary includes land-related emissions and removals from bioenergy feedstocks.
2 The target includes FLAG emissions and removals.
3 The target boundary includes land-related emissions and removals from bioenergy feedstocks.
4 The target includes FLAG emissions and removals.